‘Participating countries commit to support these efforts by providing technical and financial resources’
The EU and the US, along with 11 countries, have launched the Global Methane Pledge Energy Pathway. The initiative is focused on catalysing methane emissions reductions in the oil and gas sector, as well as advancing progress on climate change and energy security. Along with the EU and US, Argentina, Canada, Denmark, Egypt, Germany, Italy, Japan, Mexico, Nigeria, Norway and Oman are inaugural members of the Energy Pathway.
This development follows on from the Global Methane Pledge (GMP) launched during COP26 by the EU, US and more than 100 countries. The GMP sets out to reduce methane emissions from 2020 levels by at least 30% by 2030. This pledge has now been endorsed by 120 countries, with Egypt, Qatar, and Trinidad and Tobago among the most recent signatories.
A number of countries have committed to ending routine flaring by 2030.
The partners have said that the Global Methane Pledge Energy Pathway is a ‘critical implementation step of the GMP’ that will accelerate deployment of the ‘fastest and most cost-effective mitigation solutions available today’.
The Pathway aims to encourage all nations to use methane mitigation in the oil and gas sector and eliminate routine flaring no later than 2030. Flaring is a wasteful and polluting method of disposing of the associated gas that comes from oil production, where gases are burnt. Participating countries commit to support these efforts by providing technical and financial resources and/or enhancing domestic project and policy action.
President of the European Commission, Ursula von der Leyen, speaks at the launch of the Global Methane Pledge at the U.N. Climate Summit COP26, in 2021
Backing the pledge, countries and supporting organisations have announced $59 million in dedicated funding to support implementation of the Global Methane Pledge Energy Pathway. This includes up to $9.5 million from the UNEP International Methane Emissions Observatory to support scientific assessments of methane emissions and mitigation potential in the oil and gas sector that are aligned with the Global Methane Pledge Energy Pathway. In addition, the UNEP International Methane Emissions Observatory will work with partners to launch the first phase of an alert response system for satellite-detected methane emissions during COP27, which will be held in Egypt this year.
Global gas producers including the US, Mexico, Argentina, and Nigeria have also announced ‘significant new commitments to develop projects and strengthen policies to cut methane emissions and ensure secure gas supplies’.